The latest reading of the Fed’s preferred inflation gauge showed inflation eased in May as prices increased at their slowest pace since March 2021. The core Personal Consumption Expenditures (PCE) index, which strips out the cost of food and energy and is closely watched by the Federal Reserve, rose 0.1 % in May from the […]
Tag: Feds
Indexes edge higher, yields fall ahead of the Fed’s favorite inflation gauge
Wall Street traders on Thursday were bracing for PCE inflation data for May. Momo Takahashi/BI Stocks ended Thursday slightly higher ahead of a key update on inflation. PCE for May will be published on Friday morning, providing new hints about when rate cuts may be coming. Chip firms Nvidia and Micron dipped in Thursday’s session, […]
Feds deny mandatory rear, side guards on 18-wheelers
Feds deny mandatory rear, side guards on 18-wheelers Jennifer Tierney, with the Truck Safety Coalition, is furious that the federal government will not make what some say is another safety improvement for tractor-trailers. ‘These crashes are catastrophic.’ The deadly impact of truck underride crashes The National Highway Traffic Safety Administration shot down a proposal, which […]
As feds closed in, Sen. Menendez’s wife cashed out, jeweler tells jury in bribery trial
FBI agents found 13 gold bars during their June 2022 search of the Englewood Cliffs home of Sen. Bob Menendez and his wife, Nadine. (Courtesy of U.S. Attorney’s Office, Southern District of New York) Sen. Bob Menendez’s wife unloaded gold bars and coins worth almost $250,000 just weeks before FBI agents searched their Englewood Cliffs […]
Staffers at Crossroads Brooklyn detention center smuggled in weapons and drugs: feds
Five youth development specialists at a Brooklyn juvenile detention center were charged on Wednesday with smuggling weapons, drugs and other contraband in exchange for bribes, officials said. By sneaking in and distributing the dangerous contraband into the Crossroads Juvenile Center in Brownsville, the city employees violated their sworn duty and destabilized the detention center while […]
Feds call off Rio Chama pesticide spraying for second straight year
Jun. 25—A plane will not spray billowing streams of insecticides this year onto a 35-square-mile area near the Rio Chama because grasshopper populations are too small to warrant such treatment. Federal pest-control managers, who’d considered the aerial spraying, called it off when grasshopper counts remained consistently below eight per square acre — the threshold deemed […]
What rate cut? The Fed’s next move could be a hike if inflation stays stubbornly high, legendary investor says
Federal Reserve Bank Chair Jerome PowellChip Somodevilla/Getty Images A rebound in inflation risks prompting another rate hike from the Fed, Rob Arnott told Bloomberg TV. He forecasts inflation at 3.5%-5% by the of the the year. The Fed’s projected 25-basis point rate cut won’t be enough to stimulate the economy, he noted. Higher interest rates […]
Brooklyn firebug tried to torch ex’s Coney Island NYCHA building: feds
A convicted felon started a gasoline fire in a Brooklyn housing development in a scary attempt to torch the apartment where his ex-girlfriend and their daughter live, the feds allege. Michael Rosendary lit the blaze in a 14th floor hallway outside his ex’s door in the Unity Towers on W. 27th St. in Coney Island, […]
Fed’s Key Inflation Gauges May Offer Path to Rate Cuts: Eco Week
(Bloomberg) — The Federal Reserve’s favored inflation yardsticks are poised to show the tamest monthly advances since late last year — a stepping stone for officials to begin lowering interest rates, possibly as soon as September. Most Read from Bloomberg Economists expect no change in the May personal consumption expenditures price index and a minimal […]
Feds convicted Kentucky man after Bevin pardon in state court. He wants a new trial
A Kentucky man who received a controversial pardon from then-Gov. Matt Bevin on a state homicide conviction but was later found guilty in federal court in the same murder is trying again to get his conviction overturned. Attorneys for Patrick Baker, 46, filed a motion last week in federal court arguing that his attorneys for […]
S&P 500 targets, Fed’s Kashkari, China data: 3 Things
Stock futures (^DJI, ^IXIC, ^GSPC) are mixed ahead of Monday’s market close as Evercore ISI and Goldman Sachs raise their year-end targets for the S&P 500. Minneapolis Federal Reserve Bank CEO and President Neel Kashkari believes it is “reasonable” to believe the Fed could wait until December to begin cutting interest rates. China’s property sector […]
Fed’s Kashkari says it’s ‘reasonable’ to predict December rate cut
By Ann Saphir (Reuters) -Minneapolis Federal Reserve President Neel Kashkari on Sunday said it’s a “reasonable prediction” that the U.S. central bank will cut interest rates once this year, waiting until December to do it. “We need to see more evidence to convince us that inflation is well on our way back down to 2%,” […]